Bill Text: NJ A3336 | 2012-2013 | Regular Session | Introduced
Bill Title: Permits NJ boat manufacturers to qualify for EDA loans for renewable energy technology, equipment, or systems.
Spectrum: Bipartisan Bill
Status: (Introduced - Dead) 2014-01-06 - Substituted by S1209 (1R) [A3336 Detail]
Download: New_Jersey-2012-A3336-Introduced.html
Sponsored by:
Assemblyman UPENDRA J. CHIVUKULA
District 17 (Middlesex and Somerset)
SYNOPSIS
Permits NJ boat manufacturers to qualify for EDA loans for renewable energy technology, equipment, or systems.
CURRENT VERSION OF TEXT
As introduced.
An Act authorizing boat manufacturers to qualify for loans from the New Jersey Economic Development Authority for the manufacture of wind turbines and supplementing P.L.1974, c.80 (C.34:1B-1 et seq.).
Be It Enacted by the Senate and General Assembly of the State of New Jersey:
1. Any legally organized for-profit company that is located in the State of New Jersey and whose primary business activity is boat manufacturing shall be eligible for any loan program offered by the New Jersey Economic Development Authority that supports "Class I renewable energy", or energy efficiency provided that the boat manufacturing company utilizes the loan to manufacture Class I renewable energy or energy efficiency systems, products, or within the State.
2. This act shall take effect immediately, but shall remain inoperative for 30 days following the date of enactment.
STATEMENT
This bill would make New Jersey boat manufacturers eligible to apply for any loan program offered by the New Jersey Economic Development Authority ("authority") which supports companies entering or expanding with the manufacturing stage of commercial development and that are manufacturing, or planning to manufacture, Class I renewable energy or energy efficiency systems, products, or technologies. The bill is intended to make boat manufacturers eligible to apply for the "Edison Innovation Clean Energy Manufacturing Fund" administered by the authority in collaboration with the Board of Public Utilities. In order for a boat manufacturer to be eligible for a loan, it must use the loan to manufacture Class I renewable energy or energy efficiency systems, products, or technologies.
